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Massmart

South African retail and wholesale group built from Makro, listed in 2000 and fully acquired by Walmart through a 2022 scheme.

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Massmart is a South African retail and wholesale group. Its 2008 annual report dates the group to 1990 and identifies Makro as its founding entity. [1]

History

The group acquired 26 Game stores on 1 July 1998 and listed on the JSE on 4 July 2000. [1]

Walmart acquired 51% in 2011, then completed a scheme for the remaining outside shares in November 2022. [4][6]

The group website reported 293 stores in eight sub-Saharan countries when accessed on 23 October 2026. [3]

Frequently asked questions

Who owns Massmart?

Massmart is wholly owned within Walmart after the 2022 scheme acquired the remaining outside shares. [5][6]

When was Massmart founded?

Massmart’s 2008 annual report dates the group to 1990. Mark Lamberti’s own account gives 1992 for his founding action. [1][2]

Is Massmart still listed on the JSE?

No. The listing terminated on 22 November 2022 after the Walmart scheme became unconditional. [6]

Key milestones

  1. Massmart’s corporate timeline starts with Makro as the six-store founding entity. [1]

  2. Massmart acquired 26 Game stores. [1]

  3. Massmart listed on the JSE. [1]

  4. Walmart acquired a 51% controlling interest. [4]

  5. The Massmart listing terminated after Walmart’s scheme. [6]

Founded / co-founded by

  • Mark Lamberti — South African company builder who led Makro and founded Massmart before serving as its non-executive chairman.

Related articles

Related institutions

  • Makro South Africa — South African big-box warehouse format that supplied Massmart’s six-store founding base and remains one of the group’s trading brands.
  • Game South Africa — Discount retail chain acquired by Massmart in 1998 and retained as a trading format within the Walmart-owned group.
  • Walmart — United States retail group that entered South Africa through a 51% Massmart acquisition in 2011 and completed full ownership in 2022.

Sources

  1. Massmart Holdings, Annual Report 2008, 2008-10-01. Original source. Accessed 2026-10-23. ↩
  2. Mark Lamberti, About Mark Lamberti. Original source. Accessed 2026-10-23. ↩
  3. Massmart, Company news and information. Original source. Accessed 2026-10-23. ↩
  4. Walmart, Walmart history. Original source. Accessed 2026-10-23. ↩
  5. Walmart, Reviewed Massmart interim results and business update, 2022-08-29. Original source. Accessed 2026-10-23. ↩
  6. Massmart and Walmart, Finalisation announcement for the scheme of arrangement, 2022-11-04. Original source. Accessed 2026-10-23. ↩